Year Ended December 31, 2017 vs. 2016 Years Ended December 31, Increase 2017 2016 (Decrease) (In thousands) Revenues and other income: Oil and gas revenue . . . . . . . . . . . . . . . . . . . . $ 578,139 $ 310,377 $267,762 Gain on sale of assets . . . . . . . . . . . . . . . . . . . — — — Other income, net . . . . . . . . . . . . . . . . . . . . . 58,697 74,978 (16,281) Total revenues and other income . . . . . . . . . 636,836 385,355 251,481 Costs and expenses: Oil and gas production . . . . . . . . . . . . . . . . . . 126,850 119,367 7,483 Facilities insurance modifications, net . . . . . . . . (820) 14,961 (15,781) Exploration expenses . . . . . . . . . . . . . . . . . . . 216,050 202,280 13,770 General and administrative . . . . . . . . . . . . . . . 68,302 87,623 (19,321) Depletion and depreciation . . . . . . . . . . . . . . . 255,203 140,404 114,799 Interest and other financing costs, net . . . . . . . 77,595 44,147 33,448 Derivatives, net . . . . . . . . . . . . . . . . . . . . . . . 59,968 48,021 11,947 Loss on equity method investments, net . . . . . . 6,252 — 6,252 Other expenses, net . . . . . . . . . . . . . . . . . . . . 5,291 23,116 (17,825) Total costs and expenses . . . . . . . . . . . . . . . 814,691 679,919 134,772 Loss before income taxes . . . . . . . . . . . . . . . . . . (177,855) (294,564) 116,709 Income tax expense (benefit) . . . . . . . . . . . . . . 44,937 (10,784) 55,721 Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(222,792) $(283,780) $ 60,988 The results of operations for our equity method investments are presented in ‘‘Loss on equity method investments, net.’’ See ‘‘Item 8. Financial Statements and Supplementary Data—Note 7— Equity Method Investments’’ for additional information regarding our equity method investments. Oil and gas revenue. Oil and gas revenue increased by $267.8 million as a result of eleven cargos sold during the year ended December 31, 2017 as compared to seven cargos during the year ended December 31, 2016, and as a result of a higher realized price per barrel in 2017. We lifted and sold 10,761 MBbl at an average realized price per barrel of $53.73 in 2017 and 6,756 MBbl at an average realized price per barrel of $45.94 in 2016. Other income. Other income, net decreased by $16.3 million as we recognized $58.7 million of LOPI proceeds, net during the year ended December 31, 2017 related to the turret bearing issue on the Jubilee FPSO compared to $74.8 million of LOPI proceeds in the previous year. The LOPI claim was finalized in June 2017. Oil and gas production. Oil and gas production costs increased by $7.5 million during the year ended December 31, 2017 as compared to the year ended December 31, 2016 as a result of lower LOPI claim insurance proceeds recognized during the year ended December 31, 2017 partially offset by accrual adjustments from the Jubilee and TEN fields operator. The LOPI claim was finalized in June 2017. Facilities insurance modifications, net. During the year ended December 31, 2017, we incurred $19.7 million of facilities insurance modification costs associated with the long-term solution to the turret bearing issue. These costs were offset by $20.5 million of hull and machinery insurance proceeds received during the year ended December 31, 2017 resulting in a credit of $0.8 million. During the year 86